Finovate Alumni News

On Finovate.com

  • Swych Introduces Themed, Multi-Currency, Digital Gifting Options.
  • Persado Unveils Persado One, Lands $30 Million Credit Facility from Silicon Valley Bank.
  • Personetics Leverages AI to Help Chip Away at Student Loan Crisis.
  • Two-Time Best of Show Winner Finn.ai Raises $3 Million in New Funding.

Around the web

  • Actiance launches Safe Landing Program to ensure continuous compliance for stranded CA data protection customers.
  • PayNearMe helps NYC residents and visitors pay parking tickets with cash.
  • Mitek partners with handwriting-based biometric authentication service Asignio to deliver IDaaS solution.
  • Revolut announces plans to expand to Singapore.
  • Zafin launches digital origination platform and partner ecosystem, Zafin Origin.
  • Klarna expands partnership with Arcadia, adding new payment solutions.
  • Yoyo Wallet reaches processing milestone of more than 1.75 million transactions per month.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Yoyo Wallet Raises $15 Million in Series B

 

 

In a round led by Horeca, London-based Yoyo Wallet has raised more than $15 million (£12 million) in new funding. Alain Falys, company co-founder and CEO, said the new investment “will allow us to provide the benefits of customer identification and mobile engagement to a wider array of retailers, large and small, in the U.K. and across Europe.” Horeca is the venture capital arm of German retail conglomerate, Metro Group.

Also participating in the round, which takes Yoyo Wallet’s total capital to more than $30 million, were Woodford Investment Management and Touchstone Innovations. Hansjorg Sage, Metro Group digital unit GM, highlighted Yoyo’s partnership with Caffe Nero, the #3 coffee retail chain in the U.K., as evidence of the company’s “strong track record of deploying digital technology at the customer interface.” Sage said the the trend toward greater digitization in the food and beverage segment of the hospitality industry gave companies like Yoyo Wallet the chance to make a “meaningful positive impact on a wide spectrum of retail businesses.” As part of the investment, still subject to FCA approval, Metro Group partner James Hook will join the Yoyo Wallet board of directors.

Pictured: Yoyo co-founder and COO Michael Rolph demonstrating the Yoyo mobile app at FinovateEurope 2015.

With more than 400,000 registered users and an acceptance network of more than 1,700 outlets, Yoyo Wallet combines payments and loyalty into a seamless mobile experience. The company leverages QR code technology to enable PoS payments, providing SKU-level digital receipts for each transaction while also recording and applying any rewards or loyalty points the purchaser is due into the Yoyo app. Available on iOS and Android platforms, Yoyo wallet features the ability for users to send rewards (“yo-yo’ing”) to others via LinkedIn, Twitter, Facebook, or other social media. Merchants can then tie other rewards to their customers who “yo-yo” the most. “Yoyo is now delivering proven benefits to a rapidly growing number of merchants and their customers in universities, corporate campuses, and the High Street,” Falys said.

Yoyo allows retailers build their own branded app, establish a branded presence within the Yoyo app, or use Yoyo’s acceptance rails and SDK to power their own solution. This gives retailers great flexibility in designing the specific mobile experience that is relevant to their customers. In their funding announcement, for instance, the company used the example of a restaurant chain providing customer experience-enhancing options such as being able to order and pay from the table with a Yoyo-powered app. Yoyo Wallet also provides an analytics and campaign generation platform for retailers to enable them to operationalize their insights into customer behavior and better personalize rewards and marketing campaigns.

Founded in 2013, Yoyo demonstrated its mobile app at FinovateEurope 2015. This spring, the company hired former PayPal GM Simon Moran as its first VP of Commercial. In February, Yoyo marked its 10 millionth transaction,  having “helped retailers across the U.K. and Ireland award over 1.2 billion loyalty points and 1.8 million coffee stamps.” Yoyo began the year with the introduction of its AI-powered, marketing automation platform, Yoyo Engage at Davos in January.

Finovate Alumni News

On Finovate.com

  • Yoyo Wallet Raises $15 Million in Series B.
  • Flywire Teams with PayPal for Cross-Border Payments Method.
  • Fintonic to Use $28 Million Round to Move Beyond Loans and Insurance.

Around the web

  • IdentityMind Global to offer Confirm.io’s document authentication technology to its financial services customers.
  • transcosmos to integrate with Tradeshift Japan to help businesses digitalize their indirect operations and accelerate transactional speed
  • Coinbase is reimbursing losses caused by the Ethereum flash crash.
  • Backbase scores fintech deal in Norway with SSF Bank.
  • Fiserv partners with GoldBean to provide a digital adviser offering extra assistance.
  • Meniga & Islandsbanki partner to deploy new card-linked offer platform reaching more than 30% of households in Iceland.
  • Jumio partners with Monzo for strong identity verification.
  • mBank moves into fintech vendor space with new digital banking system.
  • JCB International partners with iSignthis to enable SEPA transactions.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • LendUp Lands $100 Million Credit Facility.
  • LikeFolio Begins Licensing Brand-Mapping Database.
  • Euronext Invests $10 Million in Algomi; Expands Joint Venture Agreement.

Around the web

  • Yoyo hires former PayPal GM Simon Moran as first VP of Commercial.
  • Fiserv expands its Florida contact and servicing center by 22%.
  • Trustly partners with UATP to enable online bank payments for airfare.
  • NICE extends real-time authentication across all voice channels.
  • The Asian Review covers Ayondo’s upcoming listing on the Singapore Exchange.
  • Signifyd wins Finance Monthly’s 2017 Fintech Award for Fraud.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Lights! Camera! Action! Demo Videos from FinovateEurope Now Available.
  • BlueVine Lands $75 Million Line of Credit.

Around the web

  • Yoyo marks 10 millionth transaction milestone.
  • Jack Henry & Associates‘ Symitar division unveils its account opening self-service hub, SymApp.
  • New APIs from Citi to help clients access network with existing treasury applications. See Citi at FinDEVr New York in March.
  • Credit Union of Southern California ($1.2 billion) chooses Fiserv’s Architect digital banking platform.
  • SuiteBox introduces multi-signing of document functionality to its digital workspace technology platform.
  • Ledger releases the Nano S firmware 1.3.
  • Stoneham Bank to leverage Insuritas to launch insurance agency platform to drive fee income.
  • Report highlights Urban FT, Misys, Kony, Backbase, Infosys, Cachet Financial Solutions, and Nymbus, as key digital banking players.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

Around the web

  • First Oklahoma FCU to deploy core account processing technology from Fiserv.
  • Yoyo unveils marketing automation platform, Yoyo Engage, at Davos.
  • Misys adds crowdlending module to FusionBanking platform.
  • United Nations FCU chooses digital banking platform from Jwaala.
  • OnDeck and payment solutions provider WEX team up to provide small business financing.
  • ABA Banking Journal column on biometric authentication features Daon and EyeVerify.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Live Safe and Prosper: The Themes of FinovateAsia 2016

Around the web

  • Algomi partners with Euronext to develop corporate bond trading network.
  • Fiserv adds SAS endpoint protection from CrowdStrike to its cyber security suite.
  • Top U.K. mobile wallet Yoyo picked by Caffé Nero for its mobile payment and loyalty rewards program.
  • Avoka unveils new analytics module, Transact Insights, to support digital account opening.
  • New partnership with Swisscom enables Boku to provide carrier biting for users of Spotify.
  • Overbond integrates fixed-income market-data from Thomson Reuters.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • H2 Ventures and KPMG Unveil 2016 Fintech 100

Around the web

  • Signifyd to power fraud protection for Magento Commerce platform’s online merchants.
  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Handpoint expands agreement with PaySafe to power EMV POS.
  • YoYo Wallet expands focus to U.K.’s high street retailers, with partnerships between Planet Organic, Fernandez & Wells and Hummus Bros.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • TSYS signs payments agreement with Optal Financial Limited.
  • Bluefin Payment Systems launches cloud-based hosting option for its Decryptx PCI-validated P2PE product through Amazon Web Services.
  • Socure launches revamped Digital Identity Dashboard.
  • Civic expands focus from 2FA to Secure Private Login.
  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • FIS to provide reconciliation solution to U.K.-based Raphaels Bank to facilitate access to faster payments.
  • PayStand offers payment certification and notarization for its customers via the blockchain.
  • PrivatBank adds fund-transfer functionality via iMessage to its Privat24 mobile banking app.
  • ThetaRay unveils its analytic platform for fraud detection, THETA.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Yoyo Wallet is Prepared for Liftoff (But Not in a SpaceX Explosion Sort of Way)

Screen Shot 2016-09-05 at 11.34.06 AM

The mobile wallet market in the U.S. is being inundated with apps from Samsung Pay, Apple Pay, CVS Pay, Wells Fargo Wallet, Xiaomi’s Mi Pay, and many others. Meanwhile, London-based Yoyo Wallet with its slow-and-steady approach is starting to take off with both merchants and consumers.

You might think of Yoyo Wallet as the Venmo of the mobile-wallet industry since the app has struck a nerve with millennials. The mobile wallet generates a unique QR code for each transaction and allows retailers to in-build rewards and loyalty to incent first-time customers and encourage repeat business.

The startup was recently featured in Fusionwire, which interviewed Yoyo’s cofounder and CRO Michael Rolph, who said:

Over the last six months we’ve gone through this evolution that I think is fairly unique in any company’s life cycle. We’ve probably done the most important work of our lives over this time in order to lay the foundations for scaling. We’ve signed some pretty monumental deals; deals we might well look back on in years to come and say: ‘That was the turning point.’ It’s the exciting part now … you know you’ve got something, the question is: How big can you make it? This scaling-up phase will be very challenging, but that also makes it huge fun to be part of.

Rolph went on to describe Yoyo’s growth since launching, explaining that within the next few months, the company will have a workforce of 40 people, which is double the number Yoyo employed just 12 months ago. “We’ll need for all of us to be at the top of our game,” he said, since he expects Yoyo’s user-base numbers to balloon beginning next year.

Yoyo processes 400,000 transactions per month for mobile wallet users at 65 U.K. universities, 150 large corporate offices—including Accenture, JP Morgan, Visa, and HP—and retail locations. By the end of this year, the company expects to expand to 100 universities and 250 corporate offices.

Yoyo debuted at FinovateEurope 2015. Since then, the company has made inroads into Asia after launching at National University in Singapore. In late 2015, the company quietly began rolling out with partners in the U.S. As for what’s next, Rolph mentioned that the company is close to launching with “several very well-known retailers with a strong presence across the U.K., and specifically London.”

Finovate Alumni News

On Finovate.com

  • Yoyo Wallet is Prepared for Liftoff (But Not in a SpaceX Explosion Sort of Way)

Around the web

  • American Banker features Moven’s partnership with TD Bank. Come see Moven at FinovateFall this week in NYC.
  • FST Media interviews Phil Copeland, co-founder and chief executive officer of Avoka. Come see Avoka’s FinovateFall demo.
  • MoneyStrands launches new app to help users create good spending habits. Check out Strands at FinovateFall.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.